Thanks Aaron,
Would love someone to check Homeside serviceability now. You are very kind.
Fortnightly Gross Salary: $2078
Rent from Homeside House $360 weekly, Loans $281,000 (including $11,000 they want us to pay out to release land). Monthly payments $1530
Value of house $300,000 (90% LVR, so need to reduce loans to $170,000)
Rent from Westpac House $380 weekly. Loans $310,000 Monthly payments $1500, House value $340,000
Land Block (which Homeside hold title to since sub-division) Their valuation was $100,000.
Westpac Personal Flexi Loan $34,000 (12.99% / 7 years - 2% payment monthly = $680) BUT Homeside should not include this in calculator as it is to be refinanced by:
WESTPAC Equity Loan against land ($45,000 IO Loan comprising $11,000 to pay out Homeside, plus $34,000 to pay out Personal Loan)_
WESTPAC Construction Loan ( $175,000) to build new IP. Rent appraisal of $380 weekly. AGAIN was not planning to include this in Homeside updated data, as it is not approved or even processed yet, so cannot be substantiated. Want to keep info I give Homeside simple if it looks like servicing.
CREDIT CARDS AND OTHER DEBTS - NIL
SINGLE, WITH NO DEPENDANTS
Hope this is all you need. Thanks so much for doing this. Was dreading trying to get our broker to do it.
Ta
Cami
Would love someone to check Homeside serviceability now. You are very kind.
Fortnightly Gross Salary: $2078
Rent from Homeside House $360 weekly, Loans $281,000 (including $11,000 they want us to pay out to release land). Monthly payments $1530
Value of house $300,000 (90% LVR, so need to reduce loans to $170,000)
Rent from Westpac House $380 weekly. Loans $310,000 Monthly payments $1500, House value $340,000
Land Block (which Homeside hold title to since sub-division) Their valuation was $100,000.
Westpac Personal Flexi Loan $34,000 (12.99% / 7 years - 2% payment monthly = $680) BUT Homeside should not include this in calculator as it is to be refinanced by:
WESTPAC Equity Loan against land ($45,000 IO Loan comprising $11,000 to pay out Homeside, plus $34,000 to pay out Personal Loan)_
WESTPAC Construction Loan ( $175,000) to build new IP. Rent appraisal of $380 weekly. AGAIN was not planning to include this in Homeside updated data, as it is not approved or even processed yet, so cannot be substantiated. Want to keep info I give Homeside simple if it looks like servicing.
CREDIT CARDS AND OTHER DEBTS - NIL
SINGLE, WITH NO DEPENDANTS
Hope this is all you need. Thanks so much for doing this. Was dreading trying to get our broker to do it.
Ta
Cami